MyFi Platform

SAVING

Saving implies locking the crypto assets in a blockchain smart contract for a certain period of time at a very simple stage. Saving requires validators locking up their coins so that the protocol can randomly pick them at particular intervals to form a block. Participants who save more money usually have a better chance of being selected as the next block validator. This eliminates the need for advanced mining hardware to create blocks. Saving justifies making a direct investment in the cryptocurrency.

LIQUIDITY POOLS

A liquidity pool is made of two tokens to keep it easy and clear. To build a demand for the tokens that make up the pool, every pool is used. Therefore, a pool of liquidity will contain ETH and MyFi, both of which are available on the exchange. The first provider sets the price of assets that are accessible in the pool for every pool that is developed. This initial supplier of liquidity provides the pool with an equivalent value of both tokens.

LIQUIDITY POOL AGGREGATOR PROTOCOL

MyFi will launch the DeFi Liquidity Aggregators Protocol. Traders who use our DEX Aggregator will benefit from it because it will have a wider pool of liquidity for those seeking to swap larger amounts of digital tokens. Aside from that, the DeFi liquidity Aggregators Protocol will enable traders to trade on a single DEX at a better price. The DeFi space is constantly evolving at the protocol layer, but it must also boost the user interface if it is to take on the behemoth of centralized finance. There is every sign that the next generation of DeFi aggregators will be better than anything that has come before, with a wider variety of resources and features.

DEX

The DEX (or decentralized exchange) is a trading platform that's completely decentralized, meaning that it doesn't rely on a single third party service to hold or move anyone's money. This means that trades are peer-to-peer, with no middleman involved, and the funds, personal info, and tokens are all safe. You can use the DEX to trade tokens across different blockchains or to trade tokens for cryptocurrency. The MyFi DEX will be design to connect to a number of smart contracts on the blockchain.